Shares of this multibagger green energy stock under the ‘small-cap’ category rose up to 5 percent in Thursday’s trading session after the company commissioned a wind power project in Dwarka. In the last month, the company’s stock has gained more than 20 percent.
With a market capitalization of Rs 1,171.41 crores, the stocks of K.P. Energy Limited started their trading session on Thursday at Rs 529.70 and currently trade at Rs 526.95. The scrip witnessed an intra-day high of Rs 537.80 indicating a gain of 5 percent as compared to the previous close of Rs 512.20 apiece.
Such bullish stock price movements are observed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE) dated 27th September 2023, informed that the company has successfully commissioned a 10.5 Megawatt (MW) (Phase-V) of a previously agreed phase-wise commissioning of ISTS-connected wind power project.
The project pertains to 5 numbers of wind turbine generators (WTGs) of 2.1 MW each at the ‘Sidhpur’ site in Devbhoomi, Dwarka. The project is awarded to Apraava Energy Private Limited by Solar Energy Corporation of India Limited (SECI) under ‘Tranche-VIII’ bidding.
KP Energy is developing the Project for Apraava Energy as a Contractor. With the present Phase-V commissioning, the net cumulative capacity stands at 138.6 MW as against the awarded capacity of 250.8 MW.
During the recent financial years, the company has seen a decent improvement in the prime business indicators such as operating revenues and after-tax profits. The operating revenues increased from Rs 250.38 crores during FY21-22 to Rs 437.64 crores during FY22-23, and, the after-tax profits, during the same time horizon, went up from Rs 18.27 crores to Rs 43.91 crores.
Keeping a purview of one year, the company’s shares have proven to deliver multibagger returns of around 162 percent, i.e., if someone had invested Rs 1 lakh into the company’s stock, it would have converted to Rs 2.62 lakhs within a period of one year.
According to the shareholding pattern data available for the June 2023 quarter, the company’s Promoters hold a 44.8 percent stake, and the Foreign Institutional Investors (FIIs), recently showing interest, hold a 0.19 percent stake in the company.
K.P. Energy Limited is a company based in India that is engaged in the business of windmill infrastructure development. It has various operating segments including operation and maintenance services of wind parks, infrastructure development, power generation & distribution, etc.
Written by Amit Madnani
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